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FAIR VALUE (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Schedule of changes in asset subject to fair value measurement by Level

		(Dollars in Thousands)
														Fair
		Level 1				Level 2				Level 3				Value
December 31, 2013
Recurring:
Investment securities available for sale (AFS)		$	574			$	73,516			$	224			$	74,314

Non-recurring:
Maryland Financial Bank stock			-				-				30				30
Impaired loans			-				-				4,745				4,745
OREO			-				1,171				-				1,171
			574				74,687				4,999				80,260

Activity:
Investment securities AFS
Purchases of investment securities			-				28,954				-				28,954
Sales, calls and maturities of investment securities			-				(19,578	)			-				(19,578	)
Amortization/accretion of premium/discount			-				(407	)			-				(407	)
Increase (decrease) in market value			46				3,475				(126	)			3,395

Loans
New impaired loans			-				-				3,819				3,819
Payments and other loan reductions			-				-				(1,444	)			(1,444	)
Change in total provision			-				-				447				447

OREO
Sales of OREO			-				(917	)			-				(917	)
Loss on disposal of OREO			-				(16	)			-				(16	)
Write-down of OREO			-				(75	)			-				(75	)

September 30, 2014
Recurring:
Investment securities AFS			620				85,960				98				86,678

Non-recurring:
Maryland Financial Bank stock			-				-				30				30
Impaired loans			-				-				7,567				7,567
OREO			-				163				-				163
		$	620			$	86,123			$	7,695			$	94,438

Schedule of estimated fair values of financial instruments

		September 30, 2014								December 31, 2013
(In Thousands)		Carrying				Fair				Carrying				Fair
		Amount				Value				Amount				Value
Financial assets:
Cash and due from banks		$	7,112			$	7,112			$	9,214			$	9,214
Interest-bearing deposits			5,702				5,702				1,636				1,636
Federal funds sold			6,512				6,512				103				103
Investment securities			86,678				86,678				74,314				74,314
Investments in restricted stock			1,328				1,328				1,453				1,453
Ground rents			169				169				169				169
Loans, net			280,235				274,896				270,684				270,684
Accrued interest receivable			1,211				1,211				1,509				1,509

Financial liabilities:
Deposits			349,449				317,821				323,803				291,046
Long-term borrowings			20,000				20,924				20,000				21,032
Dividends payable			276				276				275				275
Accrued interest payable			40				40				29				29

Off-balance sheet commitments			23,551				23,551				23,901				23,901

Schedule of gross unrealized losses and fair value, aggregated by investment category and length of time in continuous unrealized loss position

Securities available for sale:		Less than 12 months								12 months or more								Total
(Dollars in Thousands)
		Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
		Value				Loss				Value				Loss				Value				Loss

Obligations of U.S. Govt Agencies		$	5,410			$	37			$	-			$	-			$	5,410			$	37
State and Municipal			-				-				5,113				79				5,113				79
Corporate Trust Preferred			-				-				98				149				98				149
Mortgage Backed			14,707				73				20,744				998				35,451				1,071
		$	20,117			$	110			$	25,955			$	1,226			$	46,072			$	1,336

Schedule of rollforward of the cumulative other-than-temporary credit losses recognized in earnings for debt securities

		At				At
		September 30,				December 31,
		2014				2013
		(Dollars in Thousands)

Estimated credit losses, beginning of year		$	3,262			$	3,247
Credit losses - no previous OTTI recognized			-				-
Credit losses - previous OTTI recognized			-				15

Estimated credit losses, end of period		$	3,262			$	3,262

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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